inTEST Corporation

DB:IN9 Stock Report

Market Cap: €87.1m

inTEST Valuation

Is IN9 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of IN9 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: IN9 (€6.9) is trading below our estimate of fair value (€7.8)

Significantly Below Fair Value: IN9 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for IN9?

Key metric: As IN9 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for IN9. This is calculated by dividing IN9's market cap by their current earnings.
What is IN9's PE Ratio?
PE Ratio33.6x
EarningsUS$2.84m
Market CapUS$91.26m

Price to Earnings Ratio vs Peers

How does IN9's PE Ratio compare to its peers?

The above table shows the PE ratio for IN9 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9.3x
CTNK centrotherm international
3.7xn/a€65.4m
TPE PVA TePla
9.4x1.5%€238.6m
S92 SMA Solar Technology
2.4x-0.9%€418.1m
SMHN SÜSS MicroTec
21.9x-3.4%€940.5m
IN9 inTEST
33.6x35.7%€91.3m

Price-To-Earnings vs Peers: IN9 is expensive based on its Price-To-Earnings Ratio (33.6x) compared to the peer average (9.3x).

Price to Earnings Ratio vs Industry

How does IN9's PE Ratio compare vs other companies in the European Semiconductor Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
IN9 33.6xIndustry Avg. 14.8xNo. of Companies7PE01632486480+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: IN9 is expensive based on its Price-To-Earnings Ratio (33.6x) compared to the European Semiconductor industry average (13.7x).

Price to Earnings Ratio vs Fair Ratio

What is IN9's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IN9 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio33.6x
Fair PE Ratio17.2x

Price-To-Earnings vs Fair Ratio: IN9 is expensive based on its Price-To-Earnings Ratio (33.6x) compared to the estimated Fair Price-To-Earnings Ratio (17.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst IN9 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€6.90
€10.57
+53.2%
13.0%€11.95€9.19n/a2
Aug ’25€9.95
€14.50
+45.7%
3.2%€14.96€14.03n/a2
Jul ’25€9.20
€14.50
+57.6%
3.2%€14.96€14.03n/a2
Jun ’25€8.85
€14.41
+62.8%
3.2%€14.88€13.95n/a2
May ’25€11.00
€16.76
+52.3%
5.6%€17.69€15.83n/a2
Apr ’25€11.30
€16.76
+48.3%
5.6%€17.69€15.83n/a2
Mar ’25€11.60
€18.19
+56.8%
2.6%€18.65€17.72n/a2
Feb ’25€10.80
€18.19
+68.4%
2.6%€18.65€17.72n/a2
Jan ’25€11.80
€18.19
+54.1%
2.6%€18.65€17.72n/a2
Dec ’24€11.80
€18.19
+54.1%
2.6%€18.65€17.72n/a2
Nov ’24€12.10
€24.63
+103.5%
3.7%€25.54€23.72€6.902
Oct ’24€14.10
€24.63
+74.7%
3.7%€25.54€23.72€6.452
Sep ’24€16.00
€24.63
+53.9%
3.7%€25.54€23.72€6.252
Aug ’24€18.90
€24.63
+30.3%
3.7%€25.54€23.72€9.952
Jul ’24€23.60
€24.63
+4.4%
3.7%€25.54€23.72€9.202
Jun ’24€18.90
€22.72
+20.2%
3.3%€23.63€21.81€8.853
May ’24€16.60
€20.54
+23.7%
9.5%€22.75€18.01€11.003
Apr ’24€18.30
€20.54
+12.3%
9.5%€22.75€18.01€11.303
Mar ’24€13.80
€18.23
+32.1%
2.6%€18.70€17.77€11.602
Feb ’24€11.80
€17.57
+48.9%
11.1%€19.52€15.62€10.802
Jan ’24€9.65
€17.57
+82.1%
11.1%€19.52€15.62€11.802
Dec ’23€10.70
€17.57
+64.2%
11.1%€19.52€15.62€11.802

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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